When I started my business, there were several concepts that were difficult for me to understand. One of those was how being stingy with time would lead to more money.
I truly could not see how setting better boundaries and saying no more often would help my bank account. This is probably because, as a culture, we’re conditioned to believe that the more we take on the more productive we are. If we’re more productive, then that leads to more money, right?
Or, maybe we think that we can’t set boundaries because then people won’t like us and won’t pay us. That’s also cultural conditioning that doesn’t really serve us.
Now that I’ve been self-employed for five years, I see how being stingy with time does lead to more money. I’m making more money than ever. I’m also less stressed and overworked than ever. Here is how being stingy with time helps my bank account.
I am perceived as more in-demand.
This is a big lesson I received from a fellow personal finance blogger. They told me how they were leaving money on the table because they were too available. Once they started being stingy with time — meaning they weren’t readily available all the time — they were able to command more money.
Here’s an example from my recent life. I had to tell a client that I could no longer continue doing a specific project for them. That’s because I honestly don’t have the time to be doing projects that don’t meet a certain payment threshold. I’ve got plenty of work as it is.